Last week, one of my favorite patterns developed on the daily and weekly stock chart of Seagate Technology PLC(NASDAQ:STX). This is a chart formation that has helped me make money on countless occasions with a very small failure rate. Well, the pattern just worked again for profit of over 40.0 percent in just one week. Members continue to benefit from the knowledge of chart reading. You see, the chart pattern is simply a footprint of human nature. It gives us a really good picture of the money flow into and out of a particular stock. In this case, the money was coming out of STX stock and the chart pattern told us that. The chart pattern also told me that the stock would likely breakdown around this time. This is why it is so important for traders and investors to get educated in reading and understanding charts.
I’m expecting the second half of 2017 to be much more volatile and choppy than the first half of this year was. Honestly, anyone could have made money after the election by just buying an index fund. Those days are coming to an end as we approach the second half of 2017. It will be critical to know and understand the technical picture of the price charts. Get ready, the recent two day drop in the NASDAQ is just a preview of what is to come later this year. There are lots of trading opportunities on the horizon if you can simply understand the stock chart patterns and formations that reveal themselves every trading day.